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17Associates

millions of CHF

 

2021

 

2020

Balance as of January 1

 

21.2

 

10.7

Additions

 

6.9

 

6.7

Reclassifications

 

 

4.4

Share of gains / (losses) of associates

 

–2.2

 

–0.7

Dividend payments received

 

–0.5

 

–0.0

Currency translation differences

 

0.2

 

0.1

Total investments in associates as of December 31

 

25.5

 

21.2

On March 31, 2021, the group increased its investment in Tamturbo Plc by CHF 5.4 million. Tamturbo is a manufacturer of oil-free industrial air compressor systems, offering disruptive solutions. It enables cleaner and more energy-efficient compressed air production, complementing the group’s low-pressure compressors for wastewater aeration.

On May 4, 2021, the group increased its investment in Worn Again by CHF 1.5 million. Worn Again is developing a unique polymer recycling process leveraging the group’s technology to enable the recycling of textiles and polyester packaging.